In a statement that appeared on the Education Department's website on Friday, the agency claimed the move was born out of an effort to treat all types of institutions "fairly."

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"Students deserve useful and relevant data when making important decisions about their education post-high school," DeVos wrote in the statement.

"That's why instead of targeting schools simply by their tax status, this administration is working to ensure students have transparent, meaningful information about all colleges and all programs. Our new approach will aid students across all sectors of higher education and improve accountability."

The agency is now seeking public comment on whether or not the Department of Education should require institutions to disclose publicly whether their programs are accredited as well as their program graduation rates and costs.

After the 30-day comment period, the Obama-era rule is set to be reversed on July 1, 2019.

DeVos' plan to roll back the gainful employment rule was first reported last month. At that time, the agency refused to comment on the proposal until its completion and publication.

DeVos has taken a number of steps to roll back other Obama-era rules targeting for-profit colleges, including dismantling a team dedicated to uncovering fraud at such institutions and reinstating a for-profit college accreditor despite her own staff's warnings that the organization did not meet federal standards.